THE ACIT, CENTRAL-1, INDORE vs. M/S SURYA INFRA VENTURE PVT. LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

68 of the Act to justify the identity and creditworthiness of 43 Surya Infraventure ITA 216 of 2021 and others the investor company and genuineness of the transactions entered into with the said company. Further, the findings of the Ld. CIT(A) have not been controverted by the Ld. CIT-DR by bringing any contrary material on record. Hence

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 68. The addition u/s 68, in our considered opinion, was not sustainable in view of the fact that credit in assessee’s bank account represents sale proceeds of shares sold in recognized stock exchange through registered stock broker. The sale transactions have taken place through recognized stock exchange and the money was received in settlement through banking channels

ASHISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 68. The addition u/s 68, in our considered opinion, was not sustainable in view of the fact that credit in assessee’s bank account represents sale proceeds of shares sold in recognized stock exchange through registered stock broker. The sale transactions have taken place through recognized stock exchange and the money was received in settlement through banking channels

PAWAN KUMAR CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 68. The addition u/s 68, in our considered opinion, was not sustainable in view of the fact that credit in assessee’s bank account represents sale proceeds of shares sold in recognized stock exchange through registered stock broker. The sale transactions have taken place through recognized stock exchange and the money was received in settlement through banking channels

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 68. The addition u/s 68, in our considered opinion, was not sustainable in view of the fact that credit in assessee’s bank account represents sale proceeds of shares sold in recognized stock exchange through registered stock broker. The sale transactions have taken place through recognized stock exchange and the money was received in settlement through banking channels

M/S. SANJAY ONKARMAL AGRAWAL HUF,INDORE vs. THE ITO-5(3) RANGE-5, INDORE

In the result ground raised on merit as well as legal ground raised for not

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royvirtual Hearing Assessment Year 2015-16

section 234A and 234B of the Act. 5. The appellant reserves her right to add, alter and modify the grounds of appeal as taken by her. 3. From perusal of the above grounds we find that following two common issues have been raised :- 4 Smt. Shweta Agrawal & Anr ITA No.281 & 279/Ind/2019 (i) Genuineness of Long Term Capital Gain from

SMT. SHWETA AGRAWAL,INDORE vs. THE ACIT 5(1),R-5, INDORE

In the result ground raised on merit as well as legal ground raised for not

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royvirtual Hearing Assessment Year 2015-16

section 234A and 234B of the Act. 5. The appellant reserves her right to add, alter and modify the grounds of appeal as taken by her. 3. From perusal of the above grounds we find that following two common issues have been raised :- 4 Smt. Shweta Agrawal & Anr ITA No.281 & 279/Ind/2019 (i) Genuineness of Long Term Capital Gain from

VIJAY RADHESHYAM NYATI HUF,DHAR vs. ITO, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

section 10(38) of the IT Act. In the meantime, the operators rig the price of stock and gradually rise its price many times from 500 to 1000 times. This is done through low volume transaction indulged in by the dummies of the operator at a pre-determined price. Ld. D/R also submitted that the AO after discussing

SMT. MAMTA NYATI DHAMNOD DISTT. DHAR,DHAMNOD vs. ITO DHAR, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

section 10(38) of the IT Act. In the meantime, the operators rig the price of stock and gradually rise its price many times from 500 to 1000 times. This is done through low volume transaction indulged in by the dummies of the operator at a pre-determined price. Ld. D/R also submitted that the AO after discussing

SMT VIJAYA NYATI, DHAR vs. ITO, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

section 10(38) of the IT Act. In the meantime, the operators rig the price of stock and gradually rise its price many times from 500 to 1000 times. This is done through low volume transaction indulged in by the dummies of the operator at a pre-determined price. Ld. D/R also submitted that the AO after discussing

MANISH KUMAR RADHESHYAM NYATI ,DHAR vs. ITO, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

section 10(38) of the IT Act. In the meantime, the operators rig the price of stock and gradually rise its price many times from 500 to 1000 times. This is done through low volume transaction indulged in by the dummies of the operator at a pre-determined price. Ld. D/R also submitted that the AO after discussing

KUMARI AYUSHI NYATI,INDORE vs. ITO-5(5), INDORE

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

section 10(38) of the IT Act. In the meantime, the operators rig the price of stock and gradually rise its price many times from 500 to 1000 times. This is done through low volume transaction indulged in by the dummies of the operator at a pre-determined price. Ld. D/R also submitted that the AO after discussing

PRITESH JAIN HUF,INDORE vs. ITO 4 (2), INDORE

In the result Ground No.2 of the assessee’s

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

section was properly and rightly claimed, which is prayed to be now allowed. 30. Your Honor’s attention is drawn to the order dt.14-12-09 of the Jurisdictional Tribunal in the case of Arzoo Anand vs JCIT in appeal no. ITA No.113 of 2009 for the AY 05-06, which decision subsequently has also been approved by the Honourable Jurisdictional

SHRI NILESH JAIN HUF,INDORE vs. ITO 4(2), INDORE

In the result Ground No.2 of the assessee’s

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

section was properly and rightly claimed, which is prayed to be now allowed. 30. Your Honor’s attention is drawn to the order dt.14-12-09 of the Jurisdictional Tribunal in the case of Arzoo Anand vs JCIT in appeal no. ITA No.113 of 2009 for the AY 05-06, which decision subsequently has also been approved by the Honourable Jurisdictional

ACIT (CENTRAL UJJAIN, UJJAIN vs. M/S ARIHANT FUTURE AND COMMODITIES LTD, INDORE

Bench: Shri Mahavir Prasad, Judicialmember & Shri Manish Boradvirtual Hearing &

68 and the addition of Rs. 1,80,000/- made u/s 69 of the IT Act, while incorrectly observing that the wrong was done by the persons in their personal capacity, and not in the capacity of the employees of the assessee company. 2. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred

THE ACIT ,CENTRAL-UJJAIN, INDORE vs. M/S ARIHANT CAPITALS MARKETS LTD , INDORE

Bench: Shri Mahavir Prasad, Judicialmember & Shri Manish Boradvirtual Hearing &

68 and the addition of Rs. 1,80,000/- made u/s 69 of the IT Act, while incorrectly observing that the wrong was done by the persons in their personal capacity, and not in the capacity of the employees of the assessee company. 2. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred

THE ACIT, CENTRAL - UJJAIN, INDORE vs. M/S ARIHANT FUTURE & COMMADITIES LTD , INDORE

Bench: Shri Mahavir Prasad, Judicialmember & Shri Manish Boradvirtual Hearing &

68 and the addition of Rs. 1,80,000/- made u/s 69 of the IT Act, while incorrectly observing that the wrong was done by the persons in their personal capacity, and not in the capacity of the employees of the assessee company. 2. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred

M/S. FLEXITUFF INTERNATIONAL LTD.,DHAR vs. THE PR.CIT-1, INDORE

In the result appeal of the assessee is partly allowed

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2012-13 M/S. Flexituff International Pr. Commissioner Of Ltd, Vs. Income Tax-1, C-41-50, Sez, Sector-3, Indore Pithampur, Dist. Dhar (Appellant) (Respondent ) Pan Aaacn5986H Revenue By Smt. Ashima Gupta, Cit Assessee By Shri Manjit Sachdeva & Avinash Gaur, Advocates Date Of Hearing 26.03.2019 Date Of Pronouncement 14.05.2019 O R D E R

391 ITR 274 n. Decision Craft Analytics Ltd. vis. Deputy Commissioner of Income Tax 2019- TIOL-542-ITAT-AHM. o. M/s. Scintillating Jewellery v/s. Pr. Commissioner of Income Tax-19, Mumbai 2019- TIOL-S70-ITA T -MUM. p. M/s. Bharoomal and Company Vs. Pr. Commissioner of Income Tax-22, Mumbai. 2019- TIOL-602-ITAT -MUM. q. Sanspareils Greenlands